Docket P-2-5A
Order No. PW01-090

IN THE MATTER of an application by Petro-Canada for a decrease of 1.7 cents per litre in the prices of all products in its dealer and consumer pricing schedules.

BEFORE THE COMMISSION

On Thursday, the 27th day of December, 2001

Ginger Breedon, Chair
Maurice Rodgerson, Vice-Chair
James Carragher, Commissioner

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Order

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UPON receiving the application of Petro-Canada (or "licensee") for a decrease of 1.7 cents per litre in prices of all products in its dealer and consumer pricing schedules;       

AND UPON reading the Declaration of Sarah Clayton, Senior Analyst Retail Pricing, and supporting documentation filed herein on December 14, 2001;

AND UPON considering the submissions of Petro-Canada as well as current international, national and regional market and related conditions;  

AND UPON it appearing to the Commission that current crude oil prices as well as current market -related conditions warrant a variance in petroleum prices from that applied for herein;  

AND UPON it further appearing to the Commission that a decrease of 2.4 cents per litre in gasoline prices and a decrease of 3.0 cpl in distillates in the licensee's dealer and consumer schedules will result in prices that are just and reasonable;

NOW THEREFORE, pursuant to the Island Regulatory and Appeals Commission Act and the Petroleum Products Act,

IT IS ORDERED THAT

1.  the application for a decrease in its dealer and consumer pricing schedules of 1.7 cpl is DENIED;

2.  the prices of gasolines are to be decreased by 2.4 cpl and the prices of distillates are to be decreased by 3.0 cpl in dealer and consumer products;

3. the following wholesale tank truck prices are to be charged dealers in Prince Edward Island supplied by Petro-Canada, effective 12:01 a.m. on Tuesday, January 1, 2002:

PRODUCT	CENTS PER LITRE (INCLUDING Federal Excise and Provincial Taxes)
Regular Unleaded Gasoline	50.1
Mid-Grade Unleaded Gasoline	52.1
Premium Unleaded Gasoline	54.0
Low Sulphur Diesel	52.2

4.  the following wholesale posted consumer tank truck prices, which do not include Provincial tax or seven per cent G.S.T., shall be in effect in the Province of Prince Edward Island for the wholesaler Petro-Canada, effective 12:01 a.m. on Tuesday, January 1, 2002:

PRODUCT	CENTS PER LITRE (INCLUDING Federal Excise Tax)
Regular Unleaded Gasoline	46.4
Mid-Grade Unleaded Gasoline	46.9
Premium Unleaded Gasoline	47.5
Diesel	42.1
Low Sulphur Diesel	43.2
Stove Oil	41.5
Furnace Oil	39.4

5. the above dealer prices, with seven per cent G.S.T. added, shall be indicated on all documents accompanying deliveries of these products;

6. the prices quoted in this Order, with adjustments resulting from tax changes only, shall remain in effect until otherwise ordered by the Commission.

DATED at Charlottetown, Prince Edward Island, this 27th day of December, 2001.

BY THE COMMISSION:

Ginger Breedon, Chair

Maurice Rodgerson, Vice-Chair

James Carragher, Commissioner

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Notice:

Section 58 of the Petroleum Products Act reads as follows:

58.  Where any person has the status of a party or is an intervenor in any hearing before the Commission, he is entitled

(a)  to appeal the decision of the Commission to the Appeal Division; and
(b)  to participate as a party in the hearing of an appeal.

and an appeal shall be on a question of law or jurisdiction only and be governed by section 13 of the Island Regulatory and Appeals Commission Act.

Sections 13.1 (1) and (2) of the Island Regulatory and Appeals Commission Act provide as follows:

13.(1)  An appeal lies from a decision or order of the Commission to the Appeal Division of the Supreme Court upon a question of law or jurisdiction.

(2)  The appeal shall be made by filing a notice of appeal in the Supreme Court within twenty days after the decision or order appealed from and the Civil Procedure Rules respecting appeals apply with the necessary changes.